TLT Is Coming Into Key Support Within A Corrective Decline

25 de abr. de 2024

Treasury bond TLT has been trading lower since the start of 2024, but after an impulsive rally at the end of 2023, we believe it's just making and finishing a deep A-B-C corrective decline. It's actually now coming into key strong support zone at 61,8% - 78,6% Fibo. retracement and channel support line, from where we should be aware of bounce, recovery and continuation higher back to 2024 highs. Just keep in mind that bullish confirmation is only above channel resistance line near 92.00 region, while invalidation level remains at 82.45.

16 de mai. de 2024

Nota

TLT Is Bouncing From Key Support As Expected

TLT is nicely bouncing and recovering after we spotted a completed A-B-C corrective decline. With current break above channel resistance line, seems like it's getting ready for a new impulsive rally that can send the price back to yearly highs and 100 area.